Reported 4 months ago
Companies are facing bankruptcy, mounting debt, and higher mortgage bills as interest rates rise globally, creating economic cracks despite low unemployment rates. Borrowing, from credit cards to 'Buy Now Pay Later' services, is sustaining consumer spending in the face of higher costs. The US, Europe, Canada, the UK, Australia, and Brazil are experiencing varying degrees of economic pressure as households, businesses, and governments adjust to a prolonged period of higher interest rates, impacting credit performance and consumer distress.
Source: YAHOO